Fishers Inventory Dwindles for 3rd Straight Month in October, 2012

Real Estate Report by m.s.Woods Real Estate, LLC. – Despite a few minor and predictable setbacks versus the previous month, the Fishers real estate market made some impressive strides in October, 2012. Take total pending sales as an example: The most recent total of 97 represents a 24.8-percent decrease versus the previous month’s total of 129. But compared to October of 2011 it is an increase of 7.8 percent. Also, from September through October of this year the average number of pending sales logged each month rose 23 percent relative to this same quarter 1 year ago.

The latest figure for total sales was arguably the biggest area of improvement, especially compared to where the market was this same time 1 year ago. October’s total of 136 closings, while 7.9 percent above the previous month’s total of 126, represents a huge 49.5-percent increase versus October of 2011. And looking at the average number of closings that took place on a per-month basis, from September through October of this year, a 21.6-percent increase was observed relative to this same quarter last year.

October marked the third consecutive month the total number of homes listed on the market fell. This time, it was by 7.4 percent, as there were 538 homes on the market compared to the previous month’s total of 581. What’s more the most recent total represents a 16.1-percent decrease versus 1 year ago—a healthy development for the Fishers real estate market, to be sure. Also, there were, on average, 13.4 percent fewer homes listed for sale each month, from September through October of this year relative this this same 3-month period last year. Another stat to note: 146 of the 538 homes listed for sale in October were new listings altogether. This is down 5.8 percent versus the previous month’s total of 155, although it is 11.5 percent above last October’s total of 131 new listings. The 12-month average number of new listings, including the most recent month, is 162.